CLIENT:
Copperweld Bimetallics LLC (“Copperweld” or the “Company”) is the leading supplier of bimetallic wiring products and the only domestic producer of copper clad steel (“CCS”) and copper clad aluminum (“CCA”) wire. Copperweld’s CCS and CCA products are well-positioned based on product material characteristics (e.g., weight, durability, theft deterrence, etc.) and cost advantages to take market share from traditional copper wiring products.

SITUATION:
Under previous ownership, the Company had encountered challenges with integration of its manufacturing assets and with its distributor sales channels. As a result, in October 2016, ownership of Copperweld was transferred to certain affiliates and managed funds of THL Credit Advisors LLC (“THL Credit”). Under THL Credit’s ownership, G2 Capital Advisors, LLC (“G2”) was engaged to develop and execute on the Company’s revitalization plan, as well as replace the existing advisor working with the Company. The Company engaged G2 to provide interim resources including an interim Chief Financial Offer and General Manager, who executed on the operational plan. During G2’s involvement, Copperweld’s management team focused efforts on realigning the growth strategy towards expansion into new markets and strengthening the Company’s presence supplying in existing industries with a refreshed go to market strategy. Since that transition, Copperweld management sourced meaningful new business in critical high growth end-market opportunities with the Company now supplying CCS and CCA into a diverse set of end-markets, as well as continuing to drive development of innovative solutions into high growth opportunities.

ENGAGEMENT:
After successfully revitalizing Copperweld, G2 served as the exclusive sell-side advisor to Copperweld, leading a robust, highly tailored process, which ultimately resulted in identifying Kinderhook Industries, LLC, (“Kinderhook”) as the ideal equity partner for the business as it continues to drive growth.

OUTCOME:
The transaction was successfully completed through a sale to Kinderhook. Details and terms of the acquisition were not disclosed.

“Copperweld has proven itself as the leading bimetallics wire manufacturer and is well-positioned to capitalize on the attractive opportunities derived from recent expansion efforts thanks to the Company’s proprietary manufacturing and differentiated products,” said Tim Durkin, former Chairman of Copperweld and Sr. Managing Director at G2. “In partnership with G2, the Company has evolved through a period of revitalization and is now poised for significant growth as an investment platform for Kinderhook.”

Craig York, CEO of Copperweld, shared, “We thank G2 Capital Advisors for working alongside us for the past 2+ years. The partnership with G2 and THL Credit was essential to our long-term growth strategy. As a result, Copperweld is well positioned to continue to serve our long-standing client base and expand our footprint in dynamic and growing end markets. Under Kinderhook’s new ownership, we look forward to continuing our tradition of product innovation and providing high value to our customers.”

“We’re very proud of the improvements that occurred at Copperweld while we were in control of the Company,” said Chris Flynn, CEO of THL Credit. “G2 was instrumental in helping to manage the business at a critical inflection point and find a proper buyer when the Company was in a position to be sold.”

About G2 Capital Advisors (www.g2cap.com)
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:
Victoria Arrigoni, Managing Director, Practice Leader Industrials & Manufacturing: T: 617.918.7934 E: [email protected]
Tim Durkin, Senior Managing Director: T: 404.861.6005 E: [email protected]
Mike Boyer, Senior Advisor: T: 717.380.4684 E: [email protected]
Connor Grogan, Senior Associate: T: 617.918.7973 E: [email protected]
Tom Gujda, Principal: T: 551.998.6900 E: [email protected]